Citibank takes lead with 3 awards and wins overall Best Mobile Banking App

Dedicated to helping consumers find the best personal finance products and services for their needs, CompareHero.my has announced the winners of its inaugural 2017 Mobile Banking Apps Awards. By comparing all 11 mobile banking apps in the market today, CompareHero.my aims to celebrate the journey many of the banks in Malaysia have undertaken towards a more digital friendly service, while also recognising the best-in-class mobile banking apps provided by these banks.

CompareHero.my 2017 Mobile Banking Apps Awards Categories
All apps were assessed by CompareHero.my aesthetical experts to review layout, functionality, and security; CompareHero.my Senior Writer’s first-hand experience and evaluation; and Apple and Android user reviews to ensure objectivity and transparency.

Each app was ranked based on its layout, functionality, security and user-experience and received a score between 1-5 (with 1 being the lowest and 5 being the highest).

And the winners are…

  • 2017 Best Mobile Banking App – Gold: Citibank
  • 2017 Best Mobile Banking App – Silver: Maybank
  • 2017 Best Mobile Banking App – Bronze: CIMB
  • 2017 Best Mobile Banking App Award for Layout: Maybank
  • 2017 Best Mobile Banking App Award for Functionality: Citibank
  • 2017 Best Mobile Banking App Award for Security: Citibank
  • 2017 Best Mobile Banking App Award for User Experience: Standard Chartered Bank and RHB

There Are Approximately 7.82 Million Mobile Banking App Users in Malaysia Today

Just a decade ago, many of us were still physically walking into bank branches or to ATM kiosks to complete basic banking transactions such as funds transfers, bill payments, loan repayments, or even just to check our account balance. Today, that can all be done in the palm of our hands with mobile banking apps. 7.82 million Malaysians are mobile banking app users from 127,600 mobile banking app users in 2005.

“There has been a clear shift in the market among consumers towards adopting digital e-services for their banking needs. In just over 10 years, we have seen the adoption rate for mobile banking apps strengthen and Malaysia now has over 7.82 million users. At CompareHero.my, our main objective is to help Malaysians save time and money via our comparison site, which compares all personal loan and credit card products in the market. But it doesn’t stop there. We also aim to help boost financial literacy levels among Malaysians which includes taking a closer look at the personal finance space in totality – including to find the best services for their needs, such as mobile banking apps,” said Benny Chee, Managing Director at CompareHero.my.

Inspired by the ever-evolving and progressive mobile banking apps in Malaysia, the CompareHero.my team have assessed all mobile banking apps based on its features, its layout, security, and user experience.

“We believe the awards help consumers identify mobile banking apps that do really well, the apps that need to improve, and the newest benchmark in the industry. It’s no longer enough, for example, to simply have a passcode for your mobile banking app. Most users now expect the biometric fingerprint login feature to be built in”, adds Shen, Senior Writer at CompareHero.my.

About the Methodology

Each app was ranked based on its layout, functionality, security and user-experience and received a score between 1-5 (with 1 being the lowest and 5 being the highest).
These apps were scored based on:

  • CompareHero.my aesthetical experts (for layout, functionality and security)
  • Objective list of what constitutes a 1,2,3,4 and 5 rating (for layout, functionality and security)
  • Writer’s evaluation (for layout, functionality and security)
  • Apple and Android reviews (for user experience)

For an in-depth look at the scoring methodology across all mobile banking apps, you can read the full review on the CompareHero.my website here. All third-party use of the findings and mentions of the award must be credited to CompareHero.my.